Natural Gas Vital To Energy Future Says Hackett
James Hackett, the CEO of Anadarko Petroleum, addressed a full house for the January monthly Bauer College Alumni Association networking breakfast, offering thoughts about the future of energy policy, natural gas and the role the University of Houston plays in meeting the changing education needs of the energy business.
The head of one of the largest Houston-based energy companies shared his thoughts on the future of the U.S. energy business for a sell-out crowd of 200 at the breakfast put on by the Bauer College Alumni Association:
- Wind and solar power won’t be the answer to the country’s future energy needs because the generating capacity is limited and the sun and the wind can’t be depended on to produce power when needed. A good alternative is to pair solar and wind installations with gas-fired plant that kick in when those natural sources shut down.
- The recent explosion in natural gas production from previously untapped reservoirs – with U.S gas reserves up 58 percent in four years according to the Colorado School of Mines – ensures supplies will be plentiful for a century or more to come. With many states sitting on top of these reservoirs, the territory that natural gas covers is far more expansive and easier to tap.
- Natural gas can be a cleaner alternative to coal or crude oil, but Washington policy makers must make it so. Switching 18-wheelers over to natural gas could curb oil imports significantly. This would require policies jump-starting demand for trucks capable of using natural gas and the stations to fuel them.
- The massive scale of the projects needed to keep up with energy demand means many geologists and petroleum engineers are going back to college. These professionals recognize they need to be capable of both analyzing formations where oil and gas can still be found, and making a case for projects where “it costs $250 million just to know if you have anything.”
- And the importance of the University of Houston Bauer College in the energy business. “We have the benefit and pleasure of having many University of Houston graduates at Anadarko. We see every day what a powerful and beneficial experience that has been.”
The Bauer College Alumni Association breakfast sponsored by James E. Bashaw & Co. has held inspiring monthly networking breakfasts for the past two years, drawing large numbers of alumni, corporate partners and supporters.
On Feb. 18, the series will host UH head football coach Kevin Sumlin and athletics director Mack Rhoades at the Houston City Club. For more information or to RSVP, click here.
By Stephen Rassenfoss
Related story: CEOs Talk Energy Policy at White House